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The Central Government notifies the Dental Council of India under section 10 of the Income-tax Act, 1961 for specified income tax exemption. The specified income includes fees and subscriptions, income from royalty and publications, grants and subsidies from the government, and interest income from banks. The body must not engage in any commercial activity. The activities and nature of the specified income must remain unchanged throughout the financial years. The body must file a return of income under section 139. The notification applies for assessment year 2023-2024 relevant to the financial year 2022-2023.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 6th October, 2023
S.O. 4374(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Dental Council of India, New Delhi’ (PAN AAAJD0821E), a body constituted by the Central Government, in respect of the following specified income arising to that body, namely: a) Fees and Subscriptions b) Income from Royalty & Publications c) Grant and Subsidies from Government d) Interest Income from bank 2. This notification shall be effective subject to the conditions that Dental Council of India, New Delhi:-
Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.
